Not at all, Mr. Gershwin! Trade the spikes is easy!
That sound you hear is currency traders groaning about having to cancel their August vacations. Over the last decade or so, the last full month of summer in the northern hemisphere has become notorious for big, unexpected moves in financial markets. This year, currencies are living up to that reputation. The Bloomberg Pound Index was poised for its sixth straight decline in late New York trading Thursday, its longest slump since last August. New Zealand's dollar fell the most since October against a basket of developed-market peers. Turkey's lira can't find a bottom, dropping again Thursday to bring its decline for ... (full story)